Alps Advisors Inc. Sells 715 Shares of Essex Property Trust, Inc. (ESS)

Alps Advisors Inc. lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,883 shares of the real estate investment trust’s stock after selling 715 shares during the period. Alps Advisors Inc.’s holdings in Essex Property Trust were worth $1,240,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quantitative Systematic Strategies LLC bought a new stake in shares of Essex Property Trust during the 3rd quarter valued at about $807,000. LMR Partners LLP boosted its stake in Essex Property Trust by 15.7% during the 2nd quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock valued at $840,000 after purchasing an additional 443 shares during the period. Principal Financial Group Inc. boosted its stake in Essex Property Trust by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock valued at $578,237,000 after purchasing an additional 91,814 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in Essex Property Trust during the 2nd quarter valued at about $2,102,000. Finally, Assenagon Asset Management S.A. boosted its stake in Essex Property Trust by 62.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,281 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 875 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

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In related news, insider John D. Eudy sold 166 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total transaction of $42,814.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Schall sold 333 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total transaction of $85,887.36. Following the sale, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,631,160.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,480 shares of company stock valued at $2,774,961. Corporate insiders own 3.30% of the company’s stock.

Shares of Essex Property Trust, Inc. (NYSE:ESS) traded down $0.57 during trading on Monday, reaching $256.38. 266,900 shares of the company’s stock were exchanged, compared to its average volume of 347,687. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. Essex Property Trust, Inc. has a 12-month low of $208.92 and a 12-month high of $270.04. The company has a market cap of $16,930.57, a P/E ratio of 21.91, a PEG ratio of 3.63 and a beta of 0.54.

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 87.61%.

ESS has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Essex Property Trust in a research note on Sunday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $279.00 price target on shares of Essex Property Trust in a research note on Wednesday, November 8th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Mizuho downgraded shares of Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 target price on the stock. in a report on Monday, November 6th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $270.00 target price on shares of Essex Property Trust in a report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $266.87.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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